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"Currently, the overall operation of China's banking and insurance sectors remains stable, and financial risks faced by them are generally under control. Although risks are quite high for some banking and insurance institutions, they will not affect the stability of the entire industry, as there is only a small number of them," said Xiao Yuanqi, chief risk officer and spokesperson of the CBIRC.

"Conducting such a competition can help promote ethnic traditional culture in one way and on the other hand, it provides the monks and nuns a stage for exchanges and communications. We will conduct similar activities in the future to help raise monks' interest in learning," he said.

"China values very much our regular monetary and fiscal policies. We will not pour cash into the market or adopt monetization of financial deficit. Negative interest rate will neither be implemented," he added.

"Consumers can initiate a lawsuit against the two defendants if they want to get the compensation," he said. "The lawsuit procedures will be easier for individual consumers, because the facts of the case have been clear in the public-interest litigation."

"Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. In support of these goals, the Committee decided to maintain the target range for the federal funds rate at 2-1/4 to 2-1/2 percent," the statement said.